Michael Burry warns of possible market top as stocks hit records

Michael Burry said he still thinks the U.S. stock market may be approaching a major peak, with the possibility of a sharp decline similar to the 1987 crash. He made the comments in a Tuesday Substack post while markets continued to climb. The S&P 500 rose 1.9% on Tuesday to a new record close, helped by strongerthanexpected earnings and lower oil prices. The Nasdaq Composite gained 2.7%, adding to a strong start to the week. Burry said he remains bearish on the artificial intelligence trade and continues to hold short positions in several companies and exchangetraded funds, including SOXX, Micron, Nvidia, Caterpillar, Palantir, Tesla, and Applied Materials. He said short selling carries significant risk and is not suitable for most investors.